Week in Review: Renewables set to dominate $10.2 trillion investment into energy by 2040
New Energy Outlook 2017 – Long-term forecast of the world’s power sector
Renewable energy sources are set to represent almost three quarters of the $10.2 trillion the world will invest in new power generating technology until 2040, thanks to rapidly falling costs for solar and wind power, and a growing role for batteries, including electric vehicle batteries, in balancing supply and demand.
Focused on the electricity system, NEO combines the expertise of over 80 market and technology specialists in 12 countries to provide a unique view of how the market will evolve to 2040.
Nat Bullard: Investing trillions in electricity’s sunny future
‘Electricity’s future is sunny — and windy, too — to the tune of trillions of dollars of new investment. While wind is tops in dollars, solar continues to decline in cost, and that means it will pass nuclear generation capacity this year, wind in 2022 and gas in 2031. In 2032, solar capacity will exceed coal-fired power generation capacity, and it is the single largest source of capacity (though not of electrons) on the global grid.
Bloomberg Radio: Electric cars will be cheaper than gas cars
New BNEF research shows that falling battery costs will mean electric vehicles will be cheaper than fuel-powered ones in the U.S. and Europe as soon as 2025. Colin McKerracher, Head of Advanced Transport for Bloomberg New Energy Finance, joins Bloomberg Markets AM with Pimm Fox and Lisa Abramowicz to discuss electric cars, battery prices, price competitiveness and how the automotive industry might be shifting in the future.
Rapid growth in data centers a boon for lithium batteries
Data centers are the major purchasers of lead-based batteries which improve the power quality and provide instantaneous back-up power. This is a rapidly growing market: demand for battery back-up in data centers across North America and Europe will quadruple between 2016 and 2025, rising from 3.5 to 14 gigawatt-hours. A smaller number of ‘hyperscale’ data centers, operated by companies such as Google, Apple, Amazon, Facebook and Microsoft will dominate the data center market in the coming years.
Source: BNEF
